Domo, Swire Coco-Cola enter into partnership
Domo announced Wednesday that Swire Coca-Cola, USA, a $2 billion revenue business with more than 7,000 associates, has entered into a partnership with the American Fork-based company.
According to a press release, Swire Coca-Cola has chosen Domo to drive more value from its business data and help its managers serve their selling region, associates and business relationships more effectively.
Swire Coca-Cola has headquarters in Draper and produces, sells and distributes Coca-Cola and other beverages to more than 60,000 retail customers in 13 states across the American West. The company is a subsidiary of Swire Pacific Limited, which is based in Hong Kong.
Jack Pelo, President and CEO of Swire Coca-Cola, USA, said previous solutions designed to deliver data-driven insights to employees were “too time-consuming and complex to implement,” as well as not designed for real business users. Before entering into this long-term partnership, Swire Cocoa-Cola engaged in a short “proof-of-concept” with Domo to see if Domo’s technology met expectations.
“We were blown away at how fast and easy it was for Domo to deliver value,” Pelo said. “In one meeting, we were looking at performance across regions and product lines. We had just introduced a new product and wanted to know if it was adding net new sales or if it was cannibalizing revenue from existing products. Within five minutes, we had that data brought into Domo and had an instant picture of how that new product line was contributing to growth in every part of our territory.”
Domo’s cloud platform, with more than 1,000 pre-built connectors and a mobile-first design, enables Swire Coca-Cola to get specific data into the hands of its business users quickly, easily and securely, the press release states.
Domo founder and CEO Josh James said the company is proud to partner with Swire, which he called an “inspiring example.”
“Swire Coca-Cola, USA is an inspiring example of a company that is leading a data-driven culture from the top down, yet is driving sustainable change by empowering all its business decision makers with the insights they need to move their business forward every day,” James said.
SBA lending surpasses $509 million in Utah
According to a press release from the U.S. Small Business Administration, last year the SBA approved over $509.6 million in loans to Utah small businesses.
The press release states the amount made up a total of 1,022 guaranteed loans which created or retained over 10,200 jobs across the state. Of those loans, 122 loans worth $56.4 million went to minority-owned small businesses, 129 loans worth $54 million went to women-owned small businesses, and 23 loans worth $5.6 million went to veteran-owned small businesses.
A large number of loans also went to small business owners in rural communities in Utah, a total of 100. Twenty-nine of those were 504 loans, worth $19.7 million, and 71 were 7(a) loans, worth $32.5 million. The average 504 loan was $716,000 and the average 7(a) loan was $426,000.
“Utah’s economy remains one of the strongest in the nation, and the SBA’s small business lending programs continue to be a critical economic development driver in the state creating or retaining more than 10,000 jobs,” said SBA Utah District Director Marla Trollan. “The SBA’s Utah District office worked hard to increase its collaboration with local community partners across the state to better serve rural communities. As a result, we significantly increased our rural 504 lending by over 70 percent in number of loans, and over 100 percent in total dollars.”